Westgold Resources Limited

WGXRF

Gold · Basic Materials

Price

$4.07

+0.22 (+5.71%)

Market Cap

$3.85B

Exchange

Other OTC

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 9, 2026 · filings through Dec 31, 2025

Share count rising — dilution

+115.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 423.6M (2021) → 912.9M (2025)

Westgold Resources is an Australian gold mining company. It digs gold out of the ground at several mines located in Western Australia, one of the world's most productive gold-mining regions. The company sells the gold it produces to refiners and bullion dealers, making it one of the larger mid-tier gold producers listed on the Australian Securities Exchange.

Westgold earns money by selling physical gold, so its revenue rises and falls with the gold price and how much gold it can pull from the ground. Nearly all of its operations are in Western Australia, and the company has grown through acquisitions, including its 2024 merger with Karora Resources, which added more mines and processing capacity. Its main risk is that a falling gold price or unexpected problems at its mines — like equipment failures or lower ore grades — can quickly squeeze profits, since mining costs stay high even when gold prices drop.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+109.7% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

-39.5% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

0.8%ownership

Relatively low insider ownership

Cash Position

Cash flow positive

$288M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Westgold Resources Limited grew revenue 110% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Gross Margin

37.3%

Modest — 37.3% gross margin

Operating Margin

33.7%

Excellent — 33.7% operating margin

ROCE

18.5%

Strong — 18.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales YoY

+102.4%

Fast-growing sales (+102.4% YoY)

EPS YoY

+395.2%

Earnings growing fast (+395.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

302%

Turns 302% of profit into real cash

FCF Margin

25.5%

Converts sales into free cash efficiently (25.5%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.06

Conservative — low debt load (0.06)

Interest Cover

22.63x

Comfortably covers interest (22.6x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

15.9x

Fair value — P/E 15.9

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward

+12.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (15.9 → 3.7)

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Dividends

Dividend Yield

0.63%

Small dividend — 0.63% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

N/A

Data not available

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